SPY Charts and some Technical Analysis News to keep in mind Today - Today's Economic Calendar - The Charts - Opinion - Stock Picks. News to keep in mind Wednesday morning: Futures trade vs fair value were trading slightly lower last night. After our big rally, maybe time for a quick breather?Fed Chairman Powell testifies again today at noon - this could cause those computer algos to go haywire."You can't fight the FED" quote still holds great weight.We look good technically - But use "Caution" message has been on here for a while for a reason. (The recent quick sell-off and the chance this can happen again at anytime is why we continue to leave this note).Dow -115, S&P -6, Nasdaq +12, Russell +0.The biggest factors in the market right now are; the Fed, Coronavirus & Protest headlines, how the economy is re-opening, the Global Economy and Global Geopolitical conflicts.Keep an eye on the VIX - (CBOE Volatility Index) - Has spiked again during the latest sell-off, we would expect it to come back down again at some point but remain elevated compared to historical standards. Today's Economic Calendar: 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.8:30 AM, Housing Starts for May. The consensus is for 1.100 million SAAR, up from 0.891 million SAAR in April.12:00 PM, Testimony, Fed Chair Jerome Powell, Monetary Policy Report submitted to the Congress on June 12, 2020, pursuant to section 2B of the Federal Reserve Act, Before the Committee on Financial Services, U.S. House of Representatives THE CHARTS: (NOTE: Charts are a good guide but when a tweet or news item can jerk the markets around, they mean a bit less.) BRIEFING: Another rally day on Tuesday with 2 changes to our chart. The Stochastics bottomed and are cycling back up and the Money Flow improved to neutral from a slight negative. Good technical news on the week, is we are above the important SPY 300 and 200-day moving average support levels.We have jumped back above the SPY 310 resistance line, but the futures are down as we write this and we will leave this line on the chart.* Don't risk to much, there is still a lack of CERTAINTY in the markets. * IF wanting to gamble: Options trades on these ETFs will give you a way to place your bets. $TQQQ - $SQQQ - $SPXL - $SPXS. * Beware - levered ETFs are subject to decay and are not for long-term holding. * CHANGES: The Stochastics bottomed and started cycling back up.The Money Flow improved to a neutral. POSITIVES: We are over the 20-day moving average.We are over the 50-day moving average, which is rising.We are over the 200-day moving average, which is rising. NEGATIVES: What about the fundamentals? Virus? Protests? Economy & Jobs?The Vix is still high / spiked up during the latest sell-off. Watch it for signs it comes back down, or not.Support levels may be tested Monday and thru out this week. OPINION: Currently we are above the 50-day and 200-day MAs. (Bullish).The 20, 50, and 200-day MAs are all heading higher now. (Positive slopes). This is bullish!Technically the market is still in good shape, but keep in mind the fundamentals are questionable currently and a bit unpredictable. In addition, we still have virus fears and protests to deal with. There is a cloud of uncertainty to deal with.Longer-term we still look ok, but we say "Use Caution" for a reason. Do not over risk yourself or over leverage yourself.Be aware that we are still susceptible to large drops or dips with a level of uncertainty!Look for trading opportunities that could result due to higher volatility!Have your trading lists ready always. * Using caution = Do not use MARGIN at this time unless absolutely certain of your trade! *INDICATORS: The MACD is positive. The Stochastics are neutral. The Money Flow is neutral. MA +/- (slope): The 50-day MA (292.30)(+1.30) and the 200-day MA (299.25)(+0.13) On the 9-month chart below, we are looking at a severe and quick drop of the market and then a rebound. We are above the 200-day moving average and SPY 300. Which are support levels. (Bullish). So far this week we have held those levels, it would be very positive technically if these levels did hold this week. * Continue to use some caution - Still many unknowns. * STOCKS: (Our most recent FULL TRADING LIST is posted here). < Favorites & Trade Ideas > <-- Click here for the quotes, details, news and opinions on our current Favorites and Trade Ideas! Current trading favorites: AMRN - Amarin, AUPH - Aurinia Pharma, BFYT - Benefytt Tech, EPZM - Epizyme, EXEL - Exelixis, HZNP - Horizon Therapeutics, IOVA - Iovance, IMMU - Immunomedics. KPTI - Karyopharm, TGTX - TG Therapeutics.If your thinking longer-term/income: T - AT&T is worth a look - high dividend yield.Tech Pick: CRWD - CrowdStrike. * Feel free to share your list/picks in the comments below. Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so)! Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. With our Daily Trackdowns, check back for additional analysis/observations during the trading day in the comments by us or our readers. .Are you interested in trading stocks to supplement your income or make a living? Maybe become a professional trader? Many traders have the skills and nerves to trade, but not the upfront capital.Well now that problem is solved!Try2BeFunded has expanded its trading program! If you're a novice or experienced trader, you can earn access to a trading account with up to $100,000! To learn more about how to qualify, click HERE and give it a shot! You have nothing to lose it is free to try. Give Try2BeFunded a try! .